CoStar Group | October 11, 2024

WASHINGTON – 11 October 2024 – Due to Rosh Hashana, the U.S. hotel industry reported negative year-over-year comparisons, according to CoStar’s latest data through 5 October. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. 

29 September through 5 October 2024 (percentage change from comparable week in 2023):

  • Occupancy: 65.6% (-3.4%)
  • Average daily rate (ADR): US$156.25 (-4.4%)
  • Revenue per available room (RevPAR): US$102.44 (-7.7%) 

Among the Top 25 Markets, Tampa saw the highest year-over-year increases in occupancy (+24.1% to 81.3%) and RevPAR (+22.1% to US$125.39). As is common around a natural disaster, the market’s hotel performance was lifted by displacement demand from Hurricane Helene. 

The steepest RevPAR declines were seen in Las Vegas (-25.9% to US$118.51) and Chicago (-25.8% to US$115.05). 

STR’s Weekly Insights Blog, which will be published on Friday, will include further analysis of the Hurricane Helene impact. Data processed in the coming weeks will show the effect on markets in the southeast, as well as impact from Hurricane Milton. 

For more information about the company and its products and services, please visit www.costargroup.com. 

Additional Performance Data
CoStar’s world-leading hotel performance sample comprises 85,000 properties and 11 million rooms around the globe. Members of the media should refer to the contacts listed below for additional data requests.